As state broadcaster, Fiji Broadcasting Corporation continues its project to upgrade its radio facilities and set up a new television station, the Chairman of FBCL, Yaminiasi Gaunavou said they have set out plans to pay off the major loan taken from the Fiji Development Bank.
Gaunavou confirmed that they have taken a $17 million loan from the Fiji Development Bank guaranteed by the government, to carry out the project.
He said with the new TV station to be operated by the state broadcaster expected to start off operations in the country within the next few months, it would be able to meet the yearly loan repayment of $1 million based on projected revenue.
Gaunavou said he cannot confirm at this stage how much money has to be paid out in total to the bank.
It was earlier announced that FBC's TV operations would start by December this year.
Story by: Vijay Narayan/Ronal Deo
$17M loan for FBCL upgrade and expansion
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